YouGov acquires analytics firm as US growth continues
- The deal, for an undisclosed fee, will expand data capabilities
YouGov has acquired US research data management company KnowledgeHound, expanding its data capabilities in the fast-growing market.
The market research and data analytics specialist told investors on Monday that the deal, which was for an unspecified amount, will expand the capabilities of analytics platform YouGov Crunch.
YouGov has been rapidly expanding its US operations through these types of acquisitions, with the company reportedly even considering an alternative listing in the country.
The market research and data analytics specialist said the acquisition – for an unspecified amount – will expand the capabilities of the YouGov Crunch analytics platform.
Founded in 2014, KnowledgeHound is a software-as-a-service company that connects structured data from different systems and brings them together in one place.
KnowledgeHound primarily works with Fortune 500 companies in the FMCG, pharmaceutical, technology, insurance and media industries.
Alex McIntosh, Chief Financial Officer of YouGov Chief, said: “YouGov's acquisition of KnowledgeHound represents a significant shift in what the industry can expect from data analytics platforms.
'By adding KnowledgeHound – a leading search-based research data analysis solution – to YouGov Crunch – the ultimate tool for detailed data analysis – we will make it easier than ever before to get fast, actionable and reliable insights, all at a place.'
Laura Baker, CEO of KnowledgeHound, added: “I'm excited about this next phase of KnowledgeHound's journey, as the combined capabilities and teams of KnowledgeHound and YouGov Crunch allow us to work together to truly bring the cutting-edge, scalable solution to market . actually needs.'
YouGov's pre-tax profits shot up 77 per cent to £44.7m for the year ending July 2023, following solid revenue growth across all regions.
Revenues rose 17 percent to £258.3 million as solid sales of its syndicated data products boosted revenues in the US, YouGov's biggest market, as well as Britain and mainland Europe.
In November it was reported that survey group bosses were set to rake in £9m in 2022.
Then-CEO Stephan Shakespeare earned £4.7m in the year to July, up from £540,000 previously.
Shakespeare, who founded YouGov with former Chancellor Nadhim Zahawi in 2000, stopped running the company last August and is now chairman.
YouGov shares have risen 2.45 percent to 1,173.04p in Monday morning trading.
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